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VisMin Market Intelligence: August 13, 2019

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HOTELIERS CALL FOR AIRBNB REGULATION

NEWS

Hoteliers are urging the government to hasten the approval of proposed measures that would regulate room-sharing platform Airbnb. Members of Philippine Hotel Owners Association (PHOA) are calling on government officials to “provide a level playing field in the hospitality business, as Airbnb promotes imbalance in the industry.” Earlier, Tourism chief Bernadette Romulo-Puyat announced the department’s plans of accrediting Airbnb units with private players. 

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RESEARCH VIEW

In a report, Colliers International’s Valuation and Advisory Services (CIVAS) unit assessed the impact of Airbnb on hotels. Colliers notes that the impact can and will vary from destination to destination. While it would be almost impossible for majority of hotel chains to rival the affordability and personalised experience by Airbnb, Colliers believes that hotels do have certain advantages over a typical Airbnb listing. Hotels have a wide range of amenities such as restaurants, bars, spas, gyms and function rooms onsite. The ease of access to such amenities would be what certain travellers are looking for. The CIVAS report notes that that friend or foe, like online travel agents, Airbnb is here to stay. The advantage is knowing that its formula will only be successful in markets that are either mature or imperfect.

PHILIPPINES OUTSOURCING INDUSTRY BANKS ON OFFSHORE HEALTHCARE SERVICES

NEWS

The Philippines is known as a provider of nurses and medical professionals. This strengthens the Philippines’ stature as a major clinical process outsourcing (CPO) hub. In 2018, Shearwater Health opened shop in Cebu IT Park, Cebu City. The firm has been hiring US-registered medical professionals and coders since opening a facility in Cebu City.

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RESEARCH VIEW

Colliers believes that Cebu City is among the key locations outside Metro Manila that can handle higher value outsourcing services such as health information management (HIM). Cebu is one of only three Philippine cities included in Tholons’ Top 100 Super Cities for outsourcing. In our opinion, the demand for medical coders should be sustained by the shortage of nurses and health personnel in the United States. The supply of skilled manpower, however, should be sustained by continuous training from the academe and local information and communications technology (ICT) councils. The academe, ICT councils, and schools should work together to ensure that graduates are able to meet the requirements of HIM companies and other providers of knowledge process outsourcing (KPO) services. 

BRICKLAND BREAKS GROUND FOR PHASE 2  OF WOODWAY

NEWS

Brickland Property Venture Corp. is expanding its Woodway Townhomes project in Barangay Pooc, Talisay City. The project will feature 37 units with land area of half a hectare. The company is allocating PHP50 million for the project which is due to be completed by end-2023. Brickland is also scouting for properties in Northern Cebu for a future project. 

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RESEARCH VIEW

The Cebu residential market has seen mixed demand for both vertical (condominiums) and horizontal housing (house and lots). The horizontal market is more concentrated outside Cebu City. Given the relatively reasonable land prices, developers are more willing to build house and lots in locations outside Cebu City. The development of new residential projects in and outside of Cebu City should expand options for both investors and end-users. Looking ahead, Colliers expects take-up of horizontal projects to remain at a healthy level. In our opinion, this should partly be sustained by the rising OFW remittances as well as steady deployment of Filipino workers abroad. 

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Related Experts

Joey Bondoc

Associate Director

Research

Manila

Prior to joining Colliers in March 2016, Joey worked as a Research Manager for a research and consutancy firm where he handled business, political, and macroeconomic analysis. He took part in a number of consultancy projects with multilateral agencies and provided research support and policy recommendations to key government officials and top executives of MNCs in the Philippines.

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